Intel (NASDAQ:INTC) reported that its second-quarter net income dipped to $2.83 billion, down from $2.95 billion during the same time last year.
Sales for the quarter increased to $13.5 billion, up 3.6% from 2011.
EPS came in at 54 cents, beating the 52 cents that Wall Street had anticipated, Bloomberg noted.
Intel rose more than 3% in Wednesday afternoon trading, to close over $26 a share.
The company trimmed its forecast for the rest of the year, saying that it now expected revenue to increase between 3% and 5% for the year, down from prior estimates.
Wall Street had predicted revenue growth of 4.8% for Intel this year.
The chip maker, whose largest customers include Hewlett-Packard (NYSE:HPQ) and Dell (NASDAQ:DELL), is seen as a bellwether for personal computer sales.
PC sales have declined in developed markets due to the economic slowdown in Europe and the lingering rate of low economic growth in the U.S., as well as increasing competition from mobile devices like Apple‘s (NASDAQ:AAPL) iPad.
Rival chipmarker Advanced Micro Devices (NYSE:AMD) warned of lower-than-expected quarterly revenues last week, citing weak sales in Europe and China.
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